e.l.f. Beauty (ELF) Downgraded by Zacks Investment Research
e.l.f. Beauty (NYSE:ELF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “e.l.f. Beauty, Inc. operates as a cosmetic company. Its cosmetic category primarily consists of face makeup, eye makeup, lip products, nail products and cosmetics sets/kits, excludes beauty tools and accessories, such as brushes and applicators. e.l.f. Beauty, Inc. is based in Oakland, United States. “
Other equities research analysts have also recently issued reports about the company. Morgan Stanley reduced their price target on e.l.f. Beauty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Cowen reissued an “outperform” rating and issued a $22.00 target price (down from $34.00) on shares of e.l.f. Beauty in a research note on Thursday, November 9th. Stifel Nicolaus set a $20.00 target price on e.l.f. Beauty and gave the stock a “hold” rating in a research note on Tuesday, October 31st. DA Davidson cut their target price on e.l.f. Beauty to $23.00 and set a “buy” rating on the stock in a research note on Monday, January 15th. Finally, Citigroup cut their target price on e.l.f. Beauty from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.31.
In other news, insider Scott Milsten sold 5,522 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $19.80, for a total value of $109,335.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 16.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Ameriprise Financial Inc. purchased a new stake in shares of e.l.f. Beauty during the third quarter valued at $20,359,000. Ranger Investment Management L.P. purchased a new stake in shares of e.l.f. Beauty during the fourth quarter valued at $8,123,000. Thrivent Financial For Lutherans purchased a new stake in shares of e.l.f. Beauty during the fourth quarter valued at $7,709,000. Stephens Investment Management Group LLC boosted its position in shares of e.l.f. Beauty by 320.4% during the third quarter. Stephens Investment Management Group LLC now owns 417,482 shares of the company’s stock valued at $9,414,000 after buying an additional 318,186 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in shares of e.l.f. Beauty by 22.1% during the third quarter. TimesSquare Capital Management LLC now owns 1,746,500 shares of the company’s stock valued at $39,384,000 after buying an additional 316,500 shares during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
e.l.f. Beauty Company Profile
e.l.f. Beauty, Inc, formerly J.A. Cosmetics Holdings, Inc, is a cosmetic company. The Company conducts its business under the name e.l.f. Cosmetics, and offers products for eyes, lips and face to consumers through its retail customers, e.l.f. stores and e-commerce channels. The Company offers a range of products for eyes, such as eyeshadow, eyeliner, mascara and eyelashes, eyebrows, concealer and primer, brushes and tools, and sets and palettes.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for e.l.f. Beauty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for e.l.f. Beauty and related companies with MarketBeat.com's FREE daily email newsletter.